Why Alibaba Stock Was Climbing Today

Shares of Alibaba Group Holding (NYSE: BABA) were moving higher today, a day after the Chinese tech giant delivered a strong quarterly earnings report. Today, the company benefited from a chorus of positive analyst notes as well as news of detente between the Chinese government and Ant Group, Alibaba's former financial arm in which it owns a one-third stake.

The stock closed up 3.5% after gaining as much as 5.4% earlier in the session.

Image source: Alibaba.

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Source Fool.com